# Non-Custodial & Risk Model

Global Gold Bars are designed to avoid introducing new counterparty, issuer, or custodial risk at the protocol level.

Key points:

* The protocol never takes possession, custody, or control of physical metal
* Vaults retain physical custody and regulatory compliance, and delivery responsibilities
* Title transfer occurs only at the vault level
* The protocol defines standardized rules, metadata schemas, and automated settlement workflows

This separation allows Global Gold to function as infrastructure rather than an intermediary.